Reliance (NYSE:RS) Upgraded at Wells Fargo & Company

Key Points

• Wells Fargo & Company upgraded Reliance's stock rating to "hold," indicating a more cautious approach to the company's performance.
• Reliance reported $4.43 EPS for the last quarter, which was below analysts' expectations of $4.72, impacting investor sentiment.
• The company’s market cap stands at $15.26 billion, with institutional investors holding a significant 79.26% of the stock.

Wells Fargo & Company upgraded shares of Reliance (NYSE:RS - Free Report) to a hold rating in a research note published on Thursday,Zacks.com reports.

Reliance Trading Up 1.4%

NYSE RS traded up $4.0450 on Thursday, reaching $287.3750. 306,452 shares of the company were exchanged, compared to its average volume of 407,557. The business's fifty day moving average price is $309.71 and its 200 day moving average price is $296.41. The stock has a market capitalization of $15.11 billion, a P/E ratio of 20.98, a price-to-earnings-growth ratio of 1.36 and a beta of 0.89. The company has a current ratio of 3.18, a quick ratio of 1.51 and a debt-to-equity ratio of 0.14. Reliance has a fifty-two week low of $250.07 and a fifty-two week high of $347.43.

Reliance (NYSE:RS - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $4.43 earnings per share for the quarter, missing analysts' consensus estimates of $4.72 by ($0.29). The company had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.66 billion. Reliance had a return on equity of 10.48% and a net margin of 5.39%.The business's quarterly revenue was up .5% on a year-over-year basis. During the same period last year, the firm posted $4.65 EPS. Reliance has set its Q3 2025 guidance at 3.600-3.800 EPS. Analysts forecast that Reliance will post 16.98 earnings per share for the current year.

Reliance Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, August 15th. Reliance's dividend payout ratio is 35.04%.

Hedge Funds Weigh In On Reliance

Large investors have recently modified their holdings of the business. Merewether Investment Management LP acquired a new position in shares of Reliance in the 4th quarter valued at $9,963,000. GAMMA Investing LLC lifted its stake in shares of Reliance by 17.4% in the 1st quarter. GAMMA Investing LLC now owns 966 shares of the industrial products company's stock valued at $279,000 after purchasing an additional 143 shares during the last quarter. NDVR Inc. lifted its stake in shares of Reliance by 5.8% in the 4th quarter. NDVR Inc. now owns 882 shares of the industrial products company's stock valued at $237,000 after purchasing an additional 48 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Reliance by 567.7% in the 1st quarter. SG Americas Securities LLC now owns 5,629 shares of the industrial products company's stock valued at $1,625,000 after buying an additional 4,786 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in shares of Reliance by 3.5% in the 4th quarter. BNP Paribas Financial Markets now owns 23,469 shares of the industrial products company's stock valued at $6,319,000 after buying an additional 787 shares during the period. Institutional investors and hedge funds own 79.26% of the company's stock.

Reliance Company Profile

Reliance, Inc operates as a diversified metal solutions provider and the metals service center company in the United States, Canada, and internationally. The company distributes a line of approximately 100,000 metal products, including alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products; and provides metals processing services to general manufacturing, non-residential construction, transportation, aerospace, energy, electronics and semiconductor fabrication, and heavy industries.